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LaBranche Top Officer Murphy
Quits as NYSE Vice Chairman

By

Kate Kelly Staff Reporter of THE WALL STREET JOURNAL

Updated Aug. 8, 2003 12:01 a.m. ET

NEW YORK -- A top executive of stock-trading firm LaBranche & Co. abruptly resigned as vice chairman of the New York Stock Exchange board, amid a continuing regulatory standoff between LaBranche and the Big Board.

Robert M. Murphy, chief executive officer of LaBranche's large "specialist" firm -- one of the seven specialist firms that are in charge of trading in specific stocks on the NYSE floor -- Thursday submitted his...